CHICAGO — F&I Administration Solutions LLC, a leading provider of software for the administration of auto F&I products, recently announced the release of SCS Auto GAP, which it is calling the first commercially available software that is specifically designed to administer Guaranteed Asset Protection products.

SCS Auto GAP can work seamlessly with the company's extended-service contract administration system SCS Auto VSC.

Built on a highly scalable platform and using proven Microsoft technology, SCS Auto GAP is a comprehensive, Web-based, hosted solution that manages all aspects of GAP product administration, according to officials.

"We are very excited about the release of SCS Auto GAP" said David Trinder, chief executive officer of F&I Administration. "Up to now, the only options available to GAP administrators have been to develop their own internal systems or to use systems that have been developed to administer extended service contracts.

"Both of these approaches have their challenges in that many internally developed systems have become expensive to maintain and tough to manage, and using a service contract system to administer GAP has severe limitations, especially when it comes to handling claims," he added.

SCS Auto GAP can enable the administration of every aspect of a GAP product, including product configuration and design, channel (dealer and agent) management, contract management, claims management, risk management and reporting.

The program's streamlined claim system includes a systematic validation of limits of liability as well as an electronic document management system that automatically generates outbound correspondence and stores inbound correspondence for easy retrieval, the company noted. The system can also streamline work flow, reduce errors and administration costs, in addition to increasing operational efficiency.

"This product was developed in consultation with existing SCS Auto customers who administer GAP. As a result, we have been able to deliver a product that was designed by leading members of the industry who knew exactly what was needed from the system" said Trinder.

"We have also priced the product with an understanding of the economics of the industry, and we are confident that customers adopting our product will not only achieve immediate cost savings but will also be able to scale the business in a cost efficient manner," he added.

For more information on the company, visit www.fiadmin.com.